AD Ports Group (AD Ports) and the Vietnam Maritime Administration (VINAMARINE), a government authority managed by Vietnam’s Ministry of Transport, have signed a Memorandum of Understanding (MoU) for a maritime partnership.
According to AD Ports, the partnership with WINAMARINE includes focus on ports, logistics, digital solutions, economic cities, free zones, maritime and shipping.
The MoU was signed in the presence of Pham Minh Chinh, Prime Minister of Vietnam and H.E Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, by Mohamed Eidha Al Menhali, Regional CEO of AD Ports Group and Hoang Hong Giang, Deputy Administrator of Vietnam Maritime Administration.
Under the terms of the agreement, both companies will concentrate their efforts on critical areas of collaboration such as the construction and administration of dry ports and inland container depots, as well as modern logistics operations and digital solutions to improve the global marine and shipping sectors.
Both sides have also agreed to look into additional joint initiatives in economic cities and free zones.
Furthermore, the MoU includes a number of measures targeted at utilising both parties’ capabilities, facilitating technical interchange, and supporting long-term economic growth in both the UAE and Vietnam.
A joint working group would be formed to manage the project’s implementation, with an emphasis on the creation of initiatives, investments, and possibilities in the agreed-upon areas of collaboration.
Mohamed Eidha Al Menhali, Regional CEO, AD Ports Group, said: “This MoU with VINAMARINE marks another milestone in our journey towards international collaboration, while also supporting the UAE’s wise leadership’s efforts to expand the network of trade partners and build new partnerships with global strategic markets.
“Our combined efforts would not only enhance the maritime and logistics sectors in both countries but also create avenues for sustainable growth and development in line with both nations’ economic diversification goals.
“We are committed to sharing our expertise and resources to unlock new opportunities, fostering a mutual path of prosperity. This agreement represents the strengthening of the bilateral ties between the United Arab Emirates and Vietnam, who, in recent years have increased their economic partnership through boosting trade and investment exchanges.”